Money Management Executive Latest News

In the wake of the scandal, Chicago researcher Morningstar introduced its first-ever "Stewardship Grade" to underscore the fact that there's more for investors to consider when choosing a mutual fund than just past performance. This year's results are in and one-fourth of domestic stock funds received excellent Stewardship Grades.

With generally lower expenses, opportunities to hedge, and the potential to be traded throughout the day, exchange-traded funds have enjoyed great popularity recently, but the very elements that make them attractive to investors may also result in lackluster returns, according to The New York Times.

The Board of Directors at Legg Mason Inc. has elected James W. Hirschmann as the new president, effective May 1. Raymond A. "Chip" Mason, who is the president, CEO and chairman, will continue in his role as chairman when Hirschmann takes on his role.

NASD's James S. Shorris has been promoted from senior vice president and deputy head of enforcement to executive vice president and head of enforcement, replacing Barry Goldsmith, who after 10 years with the organization, has decided to return to private practice.

Columbia Management, Bank of America's investment management division, has launched the Columbia Management Retirement Learning Center to educate Columbia's wholesalers and internal sales staff, as well as financial advisers who work with the company, on how to better serve clients with respect to their retirement and rollover plans.

In a move that would certainly further delineate access to hedge funds, Britain's securities regulator announced that it is considering allowing everyday retail investors to buy hedge funds-of-funds, The Wall Street Journal reports.

PHOENIX, Ariz. - Not unlike the buzz that has accompanied legions of other Internet-based opportunities, XBRL has everyone in the corporate world marveling at its potential to drive efficiencies and perhaps attract more customers. Well, almost everyone.

Top-performing stocks have historically rotated between various sectors and investment styles, and as a result, investors have become indoctrinated in using style boxes as key criteria for selecting mutual funds and planning their portfolio.

PHOENIX - Investment Company Institute President Paul Schott Stevens announced last week that his organization has launched an initiative that would eventually move mutual fund disclosure documents almost exclusively online.

PHOENIX - Michael Koonce would be happy to offer his opinion on the Securities and Exchange Commission's new redemption fee rule. It's a pain in the neck.